The Governmental Accounting Standards Board (GASB) has released two exposure drafts related to accounting for Other Postemployment Benefits (OPEB). One of the exposure drafts covers OPEB trusts and the other covers employer accounting for OPEB plans.

GASB also issued a third exposure draft related to pension benefits not funded through a formal trust.

Comments are encouraged and must be received by August 29, 2014. Public hearings are scheduled on September 10, 11, and 12, 2014.

GASB's news release on the exposure drafts can be found at this link.

The exposure drafts can be downloaded at this link.

Cheiron is reviewing the exposure drafts and will be providing details in an upcoming Client Advisory.

Cheiron is an actuarial consulting firm that provides actuarial and consulting advice. However, we are neither attorneys nor accountants. Therefore, we do not provide legal services or tax advice.